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There is a projected pattern on the USDJPY structure above that suggests further upside after the successful completion of primary wave ②. It assumes that January’s low at 107.65 ended with cycle wave b, which hints to 5-wave bullish move to complete wave c higher up. If the structure was identified correctly, primary wave ③ has
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It’s normal to assume there will be a change in policy when an institution has a change of leadership. In fact, it’s kind of unavoidable. Even for an institution like the ECB which has a mandate of maintaining stability, there are different views on how to maintain it. Got your risk management sorted? Open your
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The Pound Sterling steadied against its major rivals during the London trading session though FX traders are wary of this week’s policy decision from the Bank of England. The latest polls are suggesting that analysts and economists are unsure of the likely outcome of the vote to adjust the interest rate. Recent economic data coupled
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USD Finds Safe Haven Support The US dollar has kicked off the new week in the green as safe-haven demand linked to the ongoing outbreak of the Chinese Wuhan virus is keeping the greenback supported. The USD index is rallying firmly above the 97.42 level now and is testing bearish trend line resistance. This week,
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The UK is scheduled to officially leave the EU on Friday. Following the Brexit referendum in 2016 and years of tense negotiations and political turmoil in the UK, Prime Minister Boris Johnson finally secure parliamentary approval for a Brexit deal earlier this month. This means that the UK will now finally close the door on
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AS RECENTLY AS a week ago, a big transatlantic bust-up seemed inevitable, with the annual meeting of the World Economic Forum at Davos in Switzerland the most likely boxing ring. America had taken offence at France’s digital-services tax, which hits the likes of Amazon, Facebook and Google, on the ground that it discriminates against American
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The current XAUUSD structure hints to a bullish impulse consisting of primary waves ①-②-③-④-⑤.  The first four parts of the 5-wave move look fully complete, whereas wave ⑤ is still under development.  Wave ⑤ consists of intermediate impulse waves (1)-(2)-(3)-(4)-(5).  Wave (2) could be ending its correction shortly, which suggests that bulls could continue to
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USD Breaks Resistance The US dollar has been firmer over the last 24 hours with the USD index breaking above the 97.42 level yesterday. For now, momentum has stalled and price is sitting just above this level. The absence of any key US data this week means that moves have been light. However, USD sentiment
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The Coronavirus keeps spreading, weakening Aussie despite the upbeat jobs numbers. Technicals indicate that Aussie and Euro move hand to hand, with the former falling following a ‘holding’ ECB! Pound on the other hand, does relatively well as rate cut expectations diminish! Will it continue long? Stavros, Head of Investment Research at Orbex, is a
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The head of the European Central Bank told reporters on Thursday that downside risks continued to be a concern to the central bank, which market players viewed as a more dovish tone than had originally been anticipated. Christine Lagarde pointed out that the ECB’s attempts to meet target inflation had failed and that the main
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Italian politics has lurched back into the spotlight this week. Ahead of regional elections due over the weekend and into next week, there are fresh concerns for the political situation in the country. 5SM Leader Resigns Luigi Di Maio, the head of the populist 5 Star Movement announced that he is standing down as the
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The latest report from the Energy Information Administration has added further downside pressure for crude prices this week. The EIA update showed that US crude inventories fell by 400k barrels last week. News of a drawdown is typically positive. However, on the back of last week’s 2.5 million barrel drawdown, the market had been expecting
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Stavros, Head of Investment Research at Orbex, is a certified investment professional that has been involved in the FX markets as a trader and analyst for nearly 5 years. He covers both fundamental and technical aspects of trading with a specialization in core institutional trading strategies. As an engineer by trade, his analytical mind allows
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Stavros, Head of Investment Research at Orbex, is a certified investment professional that has been involved in the FX markets as a trader and analyst for nearly 5 years. He covers both fundamental and technical aspects of trading with a specialization in core institutional trading strategies. As an engineer by trade, his analytical mind allows
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